M Holdings Securities Inc. Raises Position in Prudential Financial Inc (PRU)
M Holdings Securities Inc. increased its position in shares of Prudential Financial Inc (NYSE:PRU) by 153.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,354 shares of the financial services provider’s stock after purchasing an additional 5,668 shares during the quarter. M Holdings Securities Inc.’s holdings in Prudential Financial were worth $763,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Moody National Bank Trust Division raised its holdings in shares of Prudential Financial by 0.4% in the fourth quarter. Moody National Bank Trust Division now owns 94,645 shares of the financial services provider’s stock worth $7,718,000 after acquiring an additional 340 shares during the last quarter. Crossmark Global Holdings Inc. raised its holdings in shares of Prudential Financial by 8.6% in the fourth quarter. Crossmark Global Holdings Inc. now owns 49,858 shares of the financial services provider’s stock worth $4,066,000 after acquiring an additional 3,961 shares during the last quarter. Appleton Partners Inc. MA raised its holdings in shares of Prudential Financial by 3.3% in the fourth quarter. Appleton Partners Inc. MA now owns 5,192 shares of the financial services provider’s stock worth $423,000 after acquiring an additional 165 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Prudential Financial by 0.6% in the fourth quarter. BlackRock Inc. now owns 27,744,199 shares of the financial services provider’s stock worth $2,262,541,000 after acquiring an additional 164,442 shares during the last quarter. Finally, TCI Wealth Advisors Inc. raised its holdings in shares of Prudential Financial by 39.7% in the fourth quarter. TCI Wealth Advisors Inc. now owns 676 shares of the financial services provider’s stock worth $55,000 after acquiring an additional 192 shares during the last quarter. 65.43% of the stock is owned by hedge funds and other institutional investors.
PRU has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $113.00 price target on shares of Prudential Financial in a report on Wednesday, January 9th. Zacks Investment Research cut Prudential Financial from a “hold” rating to a “sell” rating in a report on Monday, January 7th. Evercore ISI raised Prudential Financial from an “in-line” rating to an “outperform” rating and set a $85.50 price target for the company in a report on Wednesday, January 9th. Finally, Wells Fargo & Co initiated coverage on Prudential Financial in a report on Tuesday, January 8th. They issued an “outperform” rating and a $105.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $113.96.
Prudential Financial stock opened at $91.46 on Wednesday. The firm has a market capitalization of $36.79 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. Prudential Financial Inc has a 52 week low of $75.61 and a 52 week high of $108.92. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.35.
Prudential Financial (NYSE:PRU) last released its earnings results on Wednesday, February 6th. The financial services provider reported $2.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.88 by ($0.44). The business had revenue of $17.78 billion during the quarter, compared to analyst estimates of $14.03 billion. Prudential Financial had a net margin of 7.01% and a return on equity of 10.20%. During the same quarter in the previous year, the company posted $2.69 earnings per share. Research analysts predict that Prudential Financial Inc will post 12.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 14th. Investors of record on Wednesday, February 20th were paid a $1.00 dividend. This is a positive change from Prudential Financial’s previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a yield of 4.37%. The ex-dividend date of this dividend was Tuesday, February 19th. Prudential Financial’s dividend payout ratio is presently 34.22%.
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About Prudential Financial
Prudential Financial, Inc, through its subsidiaries, provides insurance, investment management, and other financial products and services. It operates through PGIM, U.S. Workplace Solutions, U.S. Individual Solutions, and International Insurance divisions. The PGIM division offers an array of asset management and advisory services related to public and private fixed income, public equity and real estate, commercial mortgage origination and servicing, and mutual funds and other retail services to institutional, private, and sub-advisory clients, as well as to insurance company separate accounts, government sponsored entities, and the general account.
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